Musings and Photos about Life and Real Estate Development in Post-Industrial Brooklyn and New York City

Thursday, January 03, 2008

Smith Street's No. 1 Laundry is Victim of Massive Rent Increase

There's good news (of a sort) and bad news about No. 1 Laundry on Smith Street, the impending closure of which we posted about yesterday. First, the good news: The owner still has another shop on Smith Street. Now, the bad news: The laundry is closing because its owner is getting taken to the cleaners by a humongous Smith Street-style rent increase. Our special Carroll Gardens-Cobble Hill Correspondent stopped in to talk to the owner and reported back:

The owner of No. 1, who also owns Kim's Dry Cleaners closer to 3rd Place on Smith, will move his whole operation to that spot. His new landlord has raised his rent a second time since buying 285 Smith Street. First, to $4000 a month. He is moving because they now want a whopping $8500 a month. $8500 a month!

One might recall that the new owners, who want to more than double the rent, bought the building at 285 Smith Street for $1.6 million and were the subject of a Brooklyn Paper article last year (which one commenter yesterday called "not only incorrect," but also "completely bizarre.") Quite the impressive rent hike, though.

No, the 12th Thai. I think EM needs a second outpost..EM is across the street! Hmmm..too small for a cafe and they may not want food, there, seeing how they live in the building. It would be nice to see a small business, but, no gift store would be able to pay. Perhaps a Chanel Boutique. Now,that would really help me out...NOT!

I really hope a small mom and pop can open there...but not another restaurant, or please, heavens no...not another chain....otherwise we'll see the downfall of Smith, just like Montague...That amount for rent seems inflated...

Marc Jacobs has never been outside the Mercer Hotel where HE LIVES, let alone vnture over a bridge into Brooklyn! Smith Street isn't gay enough for him anyway. I say it will be yet another Area baby boutique.